Tax and Financial Strategies to Support the Bankruptcy Filing Process
Is filing for bankruptcy an option you are considering as a result of pandemic-related business or personal financial losses? If so, when you work with Steinberg Enterprises, you can rest assured we are here to offer our expertise during this difficult time.
We will work with you to analyze your current situation and prepare a plan that can help prevent or delay actions by federal and state taxing authorities. If you have already engaged the services of a bankruptcy attorney, we will work with your counsel to provide ongoing support through the process.
Steinberg Enterprises offers critical services as you need them, either prior to a bankruptcy filing or during the filing process. We can
- Help you understand the difference between insolvency and bankruptcy so you can make informed decisions about your financial situation;
- Analyze your current and future situations to determine if you are insolvent or if bankruptcy is a better alternative;
- Negotiate with your vendors and creditors on restructuring your debt;
- Improve your cash flow management;
- Negotiate Cancellation of Debt if necessary, and help you understand the tax consequences of this step;
- Negotiate payment plans for both the Internal Revenue Service and your state;
- Prepare IRS and state documents for Offers in Compromise and payment plans which may reduce any liabilities, interest, and penalties;
- Continue preparing and filing all required federal and state tax returns for you to maintain your status.
All of these services can help delay collection actions and give us time to work with you to prepare a suitable plan of action.
Bankruptcy service fees
Knowing these are difficult times, we set a reasonable fee structure for the amount of work required in a typical bankruptcy case. Our initial consultation fee is $500. If you decide to engage us for our comprehensive services, our initial retainer is $3,000. Once the retainer is used, our billing rate is $190 per hour.
Please note, your situation is unique. To give you the time and attention your case deserves, it is possible the retainer amount may be exceeded. We will stay with you throughout the process, as long as you need us, until you are back on your feet.
Stress less with our bankruptcy resources
Please visit our Bankruptcy Resources page to learn more about:
- Bankruptcy basics you need to know
- The assets and issues considered in a bankruptcy filing
- Payment plans as an alternative to bankruptcy
- Other critical bankruptcy issues you need to be aware of
Contact us for bankruptcy filing assistance
When you are facing financial difficulties, it can be difficult to know where to turn. Your first call with us is free, so contact us to start getting the help you need.